Nvidia to invest up to $3 billion in Stargate data center developer Lancium, the Information reports

Aug 7 (Reuters) - Nvidia will invest up to $3 billion in power infrastructure developer Lancium, the company ‌behind the Stargate data center campus in Texas, ‌the Information reported on Friday.

• The chipmaker will invest an initial $2 ​billion for a stake of roughly 20% in Lancium, which is backed by Blackstone, according to the report.

• Nvidia could invest an additional $1 billion if the ‌company meets certain ⁠thresholds, including grid hookups, the report said, citing people familiar with the matter.

• Under ⁠the deal, Lancium and its portfolio of land and power connections have an enterprise value of around $10 billion, ​according to ​the Information.

• The capital ​is expected to help ‌Lancium expand its operations as it explores a potential initial public offering in 2027, the report said.

• Nvidia and Lancium did not immediately respond to Reuters' requests for comment.

• Stargate is a joint venture ‌between SoftBank, OpenAI and Oracle to ​build data centers. The project ​was announced in ​January by U.S. President Donald Trump, ‌who said that the companies ​would invest up ​to $500 billion to fund infrastructure for artificial intelligence.

• Lancium owns the 1,000-acre Lancium Clean Campus in ​Abilene, Texas, ‌which serves as the first operational site of ​the Stargate initiative.